The annual flurry of SPAC activity to complete deals or make extension/liquidation decisions has been in full swing so far in December. But, the one activity missing in action somewhat has been deal announcements themselves. ...READ MORE
One of the low-flying themes of 2023 became the prevalence of the adjournment and postponement. With redemptions high and risk appetites low, every vote has been a bit of a struggle for SPAC teams this year. ...READ MORE
Athena Technology II (NYSE:ATEK) has terminated its combination with Air Water Ventures, but plans to continue to seek an alternative business combination.
The transaction was well past its extended outside date of August 21, after which Air Water Ventures had the right to terminate if it appeared there was not a reasonable likelihood of Athena Technology II gathering a PIPE of at least $30 million. ...READ MORE
A broad range of de-SPACs benefited from the sudden swing to green yesterday as Fed Chairman Jerome Powell gave the first hint of rate cuts on the horizon. ...READ MORE
When Flame Acquisition Corp. (NYSE:FLME) initially announced its combination with energy company Sable Offshore in November 2022, there was quite a bit of uncertainty in the business it was putting forward. ...READ MORE
Tuesday is set to bring the last major US inflation readings before Christmas day with core CPI and other related indices being announced at 8:30 at ET. ...READ MORE
This week is set to see SPACs rush to tie up business combinations nicely in a bow before the final two weeks of the year. Eight SPACs currently have completion votes on the docket this week, while there are currently just four more booked for the rest of 2023. ...READ MORE
This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. ...READ MORE
The latter half of 2023 has largely told a story of retrenchment in the SPAC market as much of the excess in the domain has found itself terminating and liquidating. ...READ MORE
Perception Capital Corp IV (NYSE:RCFA) has entered into a definitive agreement to combine with mining firm Blue Gold for $114.5 million in equity consideration.
London-based Blue Gold has been developed as a platform to acquire gold mining assets in Ghana. ...READ MORE
SPACs continue to love EVs, but the Biden administration is throwing cold water on at least some of the party as the US will no longer offer a $7,500 tax credit for EV purchases if their battery was produced in China. ...READ MORE
With Hanukkah kicking off the winter holiday season at the end of the week, SPACs are tying up a fair amount of loose ends through the next few days. ...READ MORE
TMT Acquisition Corp. (NASDAQ:TMTC) has entered into a definitive agreement to combine with eLong Power at an equity value of $450 million.
Ganzhou, China-based eLong Power makes lithium-ion batteries for EVs and specialty vehicles along with energy storage systems. ...READ MORE
APx Acquisition Corp. (NASDAQ:APXI) announced a letter of intent to combine with an unnamed biotech firm, but teased little other information as it heads into an extension vote on Friday.
Shareholders at the meeting are to decide whether to give APx the ability to extend its transaction deadline to a maximum of December 9, 2024 in exchange for monthly contributions of the lesser of $125,000 or $0.025 per share monthly. ...READ MORE
Although cryptocurrencies and SPACs are not directly related in any way beyond the 11 announced and completed deals in the space, the two have coincidentally seen their stars rise and fall virtually in concert over the past few years. ...READ MORE
There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. ...READ MORE
